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65
to enhance the online experience for mobile, dial and
broadband subscribers, while significantly reducing bandwidth
requirements.
During the first quarter of fiscal 2007, the Company
purchased 100% of the common shares of Ascendent Systems
Inc. (“Ascendent”). The transaction closed on March 9, 2006.
Ascendent specializes in enterprise solutions to simplify voice
mobility implementations and allows the Company to further
extend and enhance the use of wireless communications by
offering a voice mobility solution that helps customers align
their mobile voice and data strategies.
During the first quarter of fiscal 2006, the Company
purchased 100% of the common shares of a company whose
proprietary software was incorporated into the Company’s
software. The transaction closed on March 24, 2005.
The following table summarizes the estimated fair value
of the assets acquired and liabilities assumed at the date of
acquisition along with prior year’s acquisition allocations:
During the second quarter of fiscal 2008, the Company
purchased 100% of the common shares of a company
whose proprietary software will be incorporated into the
Company’s software. The transaction closed on August
22, 2007. The operating results were not material to the
Company’s consolidated operating results in fiscal 2008.
In the acquisitions noted above, the consideration paid
by the Company was cash and the results of the acquirees’
operations have been included in the consolidated financial
statements commencing from each respective closing date to
March 1, 2008.
During the third quarter of fiscal 2007, the Company
purchased 100% of the common shares of a company whose
proprietary software will be incorporated into the Company’s
software. The transaction closed on September 22, 2006.
During the second quarter of fiscal 2007, the Company
purchased 100% of the common shares of Slipstream Data Inc.
(“Slipstream”). The transaction closed on July 7, 2006. Slipstream
provides acceleration, compression and network optimization
For the year ended
March 1,
2008 March 3,
2007 March 4,
2006
Assets purchased
Current assets $ 23 $ 3,707 $ 158
Capital assets -802 -
Deferred income tax asset -10,440 259
Acquired technology 1,035 40,266 6,223
Intangible assets 960 - -
Goodwill 4,523 80,906 -
6,541 136,121 6,640
Liabilities assumed -8,597 645
Deferred income tax liability 341 11,334 2,200
341 19,931 2,845
Net non-cash assets acquired 6,200 116,190 3,795
Cash acquired 13,649 3
Net assets acquired $ 6,201 $ 119,839 $ 3,798
Consideration
Cash $ 6,201 $ 119,839 $ 3,798
The acquisitions were accounted for using the purchase
method whereby identifiable assets acquired and liabilities
assumed were recorded at their estimated fair value as of
the date of acquisition. The excess of the purchase price
over such fair value was recorded as goodwill. Acquired
technology includes current and core technology, and is
amortized over periods ranging from two to five years.